Readystate Asset Management LP Makes New Investment in Lithia Motors, Inc. (NYSE:LAD)

Readystate Asset Management LP bought a new position in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,612 shares of the company's stock, valued at approximately $512,000.

A number of other institutional investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in shares of Lithia Motors in the second quarter worth $607,000. Diversified Trust Co acquired a new position in shares of Lithia Motors in the second quarter worth $339,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Lithia Motors by 15.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 1,587 shares of the company's stock worth $401,000 after acquiring an additional 213 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Lithia Motors by 83.6% in the second quarter. Blue Trust Inc. now owns 134 shares of the company's stock worth $34,000 after acquiring an additional 61 shares during the last quarter. Finally, Timber Creek Capital Management LLC raised its holdings in shares of Lithia Motors by 15.9% in the second quarter. Timber Creek Capital Management LLC now owns 7,546 shares of the company's stock worth $1,905,000 after acquiring an additional 1,033 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LAD. Morgan Stanley upgraded Lithia Motors from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $225.00 to $310.00 in a research note on Wednesday, September 25th. Wells Fargo & Company upped their target price on Lithia Motors from $299.00 to $343.00 and gave the company an "equal weight" rating in a research note on Thursday, October 24th. Citigroup upped their target price on Lithia Motors from $280.00 to $320.00 and gave the company a "neutral" rating in a research note on Friday, September 27th. JPMorgan Chase & Co. upped their target price on Lithia Motors from $375.00 to $405.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Finally, StockNews.com upgraded Lithia Motors from a "sell" rating to a "hold" rating in a research note on Friday, November 29th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Lithia Motors currently has a consensus rating of "Moderate Buy" and a consensus target price of $357.60.

Insider Transactions at Lithia Motors

In related news, insider Gary M. Glandon sold 242 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $382.86, for a total value of $92,652.12. Following the completion of the transaction, the insider now owns 1,729 shares of the company's stock, valued at approximately $661,964.94. This represents a 12.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Sidney B. Deboer sold 10,777 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $275.93, for a total value of $2,973,697.61. Following the completion of the transaction, the director now directly owns 35,352 shares of the company's stock, valued at $9,754,677.36. This represents a 23.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,067 shares of company stock valued at $20,933,294 over the last quarter. Company insiders own 1.79% of the company's stock.

Lithia Motors Stock Up 0.3 %

Shares of NYSE LAD traded up $0.98 on Friday, hitting $377.87. The company had a trading volume of 153,327 shares, compared to its average volume of 261,510. Lithia Motors, Inc. has a 12-month low of $243.00 and a 12-month high of $405.67. The business has a 50 day moving average of $347.18 and a two-hundred day moving average of $297.56. The company has a quick ratio of 0.27, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $10.07 billion, a P/E ratio of 12.90, a PEG ratio of 6.31 and a beta of 1.65.

Lithia Motors (NYSE:LAD - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $8.21 earnings per share for the quarter, topping the consensus estimate of $7.60 by $0.61. Lithia Motors had a return on equity of 12.95% and a net margin of 2.31%. The company had revenue of $9.22 billion during the quarter, compared to the consensus estimate of $9.46 billion. During the same quarter in the prior year, the business earned $9.25 earnings per share. The company's revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts forecast that Lithia Motors, Inc. will post 29.42 earnings per share for the current fiscal year.

Lithia Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Friday, November 8th. Lithia Motors's payout ratio is 7.24%.

Lithia Motors Company Profile

Lithia Motors, Inc operates as an automotive retailer worldwide. It operates in two segments, Vehicle Operations and Financing Operations. The company's Vehicle Operations segment sells new and used vehicles; provides parts, repair, and maintenance services; vehicle finance; and insurance products. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.